CEO Convicted, Banned After Losing Stolen Funds to Investment Scam

Former Arkansas Employees FCU president took $500,000 from member and invested it in race track construction scam.

By Heather Anderson|November 30, 2012 at 10:06 AM

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The NCUA on Friday issued orders prohibiting two individuals from participating in the affairs of any federally insured financial institution, including one former credit union CEO who had the money she defrauded stolen from her.

After $400 billion vanished, lawsuits quickly filled the void, including two class actions filed in the Southern District of Florida.These cases present the Southern District of Florida with an opportunity to serve as the first federal court to publish decisions on digital currency issues, including whether these currencies are securities, commodities, or an altogether new class of assets.